Our Wokingham lawyer has discovered an inconsistency when comparing the information in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s stance correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I know that there are debates on Chancel Insurance on online forums. Do I require chancel insurance when purchasing a property in Wokingham? or I am told that there is an ancient law that could mean that homeowners living in a parish church boundary will be compelled to contribute towards maintenance towards the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Wokingham?
Unless a previous purchase of the house completed post 12 October 2013 you may expect conveyancing practitioners carrying out conveyancing in Wokingham to continue to advocate a chancel search and or chancel repair liability policy.
It has been 4 months since my purchase conveyancing in Wokingham completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build apartment in Wokingham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Wokingham
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Is there a distinction between surveying and conveyancing in Wokingham?
Conveyancing - in Wokingham or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you find out about the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the vendor to fix the problems prior to you move in.